A business continuity plan is crucial for a business as it ensures that the business can continue to operate in the event of a disaster or disruption. It involves identifying potential threats to the organization and analyzing how those threats, if realized, might impact the business. The plan also outlines procedures and steps that need to be taken to ensure the business can recover and continue operations. It covers every aspect of the business, including every division and each department, role, and function.
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Once BIA and any gap analyses are ready, create your business continuity plan. "Initially, the team should create a draft document, and then they can present it to the senior executives who have to sign off on it," Elsey says. When it comes to a business continuity plan, no area of your business should be ignored. According to Elsey: "Consideration and review should move through the entire company, including every division and into each department, role and function."